Pitney Bowes (NYSE:PBI) Cut to Hold at ValuEngine

ValuEngine cut shares of Pitney Bowes (NYSE:PBI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

PBI has been the subject of several other reports. Zacks Investment Research downgraded Pitney Bowes from a hold rating to a sell rating and set a $4.75 target price for the company. in a report on Monday, September 9th. Maxim Group set a $6.00 price target on Pitney Bowes and gave the company a buy rating in a research report on Monday, August 26th. Finally, National Securities began coverage on Pitney Bowes in a research report on Thursday, October 24th. They issued a buy rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Pitney Bowes has an average rating of Hold and an average target price of $5.63.

Shares of Pitney Bowes stock traded up $0.15 on Tuesday, hitting $4.54. The stock had a trading volume of 56,382 shares, compared to its average volume of 2,623,154. Pitney Bowes has a 52-week low of $3.14 and a 52-week high of $8.56. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 101.03. The stock has a market cap of $760.28 million, a price-to-earnings ratio of 3.93 and a beta of 1.98. The company’s 50 day moving average price is $4.70 and its 200 day moving average price is $4.33.

Pitney Bowes (NYSE:PBI) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Pitney Bowes had a return on equity of 167.93% and a net margin of 1.81%. The business had revenue of $790.10 million during the quarter, compared to the consensus estimate of $768.46 million. During the same period in the previous year, the business earned $0.27 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Pitney Bowes will post 0.66 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Monday, November 18th. Pitney Bowes’s dividend payout ratio (DPR) is presently 17.24%.

A number of hedge funds have recently modified their holdings of PBI. Supplemental Annuity Collective Trust of NJ increased its position in Pitney Bowes by 700.0% in the 2nd quarter. Supplemental Annuity Collective Trust of NJ now owns 80,000 shares of the technology company’s stock valued at $342,000 after acquiring an additional 70,000 shares during the period. New Jersey Better Educational Savings Trust acquired a new position in Pitney Bowes during the 2nd quarter worth approximately $150,000. Trust Co. of Toledo NA OH acquired a new position in Pitney Bowes during the 2nd quarter worth approximately $47,000. Louisiana State Employees Retirement System increased its position in Pitney Bowes by 33.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 67,400 shares of the technology company’s stock worth $284,000 after purchasing an additional 17,000 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in Pitney Bowes by 25.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 94,424 shares of the technology company’s stock worth $404,000 after purchasing an additional 19,177 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

About Pitney Bowes

Pitney Bowes Inc offers customer information management, location intelligence, and customer engagement products and solutions in the United States and internationally. The company operates in three segments: Commerce Services; Small & Medium Business Solutions; and Software Solutions. The Commerce Services segment provides cross-border e-commerce solutions, domestic retail and e-commerce shipping solutions, fulfillment, and delivery and return services; and mail sortation services that allow clients to qualify large volumes of first class mail, marketing mail, and bound and packet mail for postal work sharing discounts.

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